You're teetering on the edge of the "slippery slope." I'd say to leave it alone. .002" taper is probably good enough for many more miles. If you go further, you will end up rebuilding the block with new oversize pistons, rings, valve job, etc. And you probably should if you want to "do this job once and forever."

If the head is .005" low (closer to the block) at the center,  I wouldn't worry about that either.  But here's a trick I've used to straighten heads that were slightly warped:  use some thin shims, like feeler gauges, to put under the center of the head, then tighten the ends of the head onto the block (with no gasket).  Go up gradually in shim size until you bend the head back flat.  The block is so beefy that it won't deform. 

You didn't say how many miles were on the engine and other factors that might push you one way or the other.  Take those into account.  Realistically, how many miles will you put on it in your lifetime?  Drive it.  

Thank you [i][url= https://production.hetclub.org/index.php?option=com_kunena&view=user&userid=12806&Itemid=3740 ]Peter Kurzenhauser[/url] for the tips,[/i]
My main concern was if the new rings have a sharp top edge..... which would dig in the .002" taper- chamfer at the top of the bore..... that would not be good.
So I bought a ridge reamer that worked great. It has been about 40 years since I last used one. I have not done the final glaze cross hatch hone, waiting until I order the the rings and find out what grit to use.
We pulled this engine out of a 1956, a  H-308 to put in our Dad's 46 Super Six coupe. He had put in a 1952 308 but it has been locked up for years, #6 piston is still in the block.
I do not know the mileage of the 56, but it looks pretty good.   #6 rings were stuck and the valve guides need replacing. I have a set of Neway cutters that I use on my GMC truck so i just need a new pilot.
Our Dad put on a different head on the 1952-308. Next week I am planning to go on a road trip to pull the motor out of the 46 [ I have the 1956 -308 in my garage] and see how the manual crank shaft mic's out. And check out the head to see what shape that is in. We will pick out the best head to use. The 1952-308 does not have the stock head on it.
I use sanding belts screwed on the top side of an epoxy glass plate and wood to deck blocks and clean up heads. Good exercise! I would rather mess something up my self than to pay some one else to mess it up for me!
The head is .005" high in the center I guess that is how I should describe it. Feeler gauge tight on the ends but loose in the center between #3-4.
So would your trick work for that warpage also?
Thanks again for your help.
Mark

The same trick to flatten the head will work the other way too. Put the shims under the ends and bolt down the middle 9 bolts or so.

I view edge reamers as poor practice. No machine shop I'm aware of still uses them. If you're going to the trouble to totally disassemble the block and install new rings, then bore and hone it to the next oversize with new pistons and rings. For all the trouble and labor you are going through, build it right and don't cheap out. That's false economy.

Or, put it back together with the original pistons and rings in the same bores. Break the glaze, touch up the valves, but nothing more.

Hello Peter,
Thanks for the head flatting tip, will let you know how it comes out.

On the ridge reamer, being careful to just come down to the wear-shadow and that it had only .002" tapper so I think that it will work. The 46 Super Six is in tough shape so getting it up and running with out spending a ton of money is the plan for now.
I understand the line between trying to get by with too little and going over board with too much in repairing old mechanical equipment. The mechanic that I trained under said that you have to know what needs to be done and what you can leave alone. I do appreciate your advice.   

On the "new" replacement 308, the top two #6 pistons rings where rusted-stuck in the ring groves. Kroil oil was my friend there and a special ground chisel to take the rings out, but in pieces!
The 1952-308 has the bore-stuck piston, looks like the #6 bore is a sore spot. Will be soaking the cooling passageways to get the rust out then new core plugs.

If I could ask another question? This 308 has hydraulic lifters. After cutting the seats and grinding the valves is there a installed valve tip length that is necessary for the hydraulics to work properly? Grinding the valve stem tips shorter is possible if necessary. 

With that, thanks again.
Mark

Re hydraulic lifters: i have not had a Hudson engine with these. However if they are like all other hydraulic lifters i have used, the pushrods have some adjustment range to take up wear. So you should not need to shorten the valves.
Let’s let someone else with specific knowledge about this topic jump in.